List of banks in Bangladesh

The commercial banking system dominates Bangladesh's financial sector. Bangladesh Bank is the Central Bank of Bangladesh and the chief regulatory authority in the sector. The banking system is composed of four state-owned commercial banks, five specialized banks, thirty eight private commercial banks, one land development bank and nine foreign commercial banks. The Nobel Prize–winning Grameen Bank is a specialized micro-finance institution, which revolutionized the concept of micro-credit and contributed greatly towards poverty reduction and the empowerment of women in Bangladesh.

Central bank

Pursuant to Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the central bank of the country, and named it Bangladesh Bank with retrospective effect from 16 December 1971.

After the independence, banking industry in Bangladesh started its journey with 6 Nationalized commercialized banks, 2 State owned Specialized banks and 3 Foreign Banks. In the 1980s banking industry achieved significant expansion with the entrance of private banks. Now, banks in Bangladesh are primarily of two types:

Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended in 2003) are termed as Scheduled Banks.State-owned commercial banks, private commercial banks, Islamic commercial banks, foreign commercial banks and some specialized banks are Scheduled Banks.

Non-Scheduled Banks: The banks which are established for special and definite objective and operate under the acts that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These banks cannot perform all functions of scheduled banks. Grameen Bank, Probashi Kallyan Bank, Karmasangsthan Bank, Progoti Co-operative Land Development Bank Limited (progoti Bank) and Answer VDP Unnayan Bank are Non-Scheduled Banks.

Non-banking financial institutions which are not banks.These institutions cannot perform all functions of banks, which get license to operate under Financial Institution Act, 1993 are termed as Non-banking financial institutions.

State-owned commercial banks

State-owned banks are functioning as nationalist. Among the state owned banks, six are commercial and two are specialized. Here is the list:

State-owned Commercial Banks

  1. Sonali Bank Limited http://www.sonalibank.com.bd/
  2. Janata Bank Limited http://www.janatabank-bd.com/
  3. Agrani Bank Limited https://www.agranibank.org/
  4. Rupali Bank Limited https://rupalibank.org/en/
  5. BASIC Bank Limited http://www.basicbanklimited.com/
  6. Bangladesh Development Bank Limited[1]

State-owned Specialized Banks

  1. Rajshahi Krishi Unnoyon Bank (RKUB)
  2. Bangladesh Krishi Bank Limited

[2]

Private commercial banks

Private banks are the highest growth sector due to the dismal performances of government banks (above). They tend to offer better service and products. Here is the list:

  1. Southeast Bank Limited[3]
  2. Meghna Bank Limited
  3. Bangladesh Commerce Bank Limited
  4. Bank Asia Limited
  5. AB Bank Limited
  6. Dhaka Bank Limited
  7. Dutch Bangla Bank Limited
  8. Eastern Bank Limited
  9. IFIC Bank Limited
  10. Jamuna Bank Limited
  11. Mercantile Bank Limited
  12. Midland Bank Limited
  13. Modhumoti Bank Limited
  14. Mutual Trust Bank Limited
  15. National Bank Limited
  16. NCC Bank Limited
  17. NRB Bank Limited
  18. NRB Commercial Bank Limited
  19. NRB Global Bank Limited
  20. One Bank Limited
  21. Prime Bank Limited
  22. Pubali Bank Limited
  23. South Bangla Agriculture and Commerce Bank Limited (www.sbacbank.com)
  24. BRAC Bank Limited
  25. Standard Bank Limited
  26. The City Bank Limited
  27. The Farmers Bank Limited
  28. The Premier Bank Limited
  29. Trust Bank Bangladesh Limited
  30. United Commercial Bank Limited
  31. Uttara Bank Limited

There are eight private Islamic Commercial Banks in Bangladesh:

  1. Islami Bank Bangladesh Limited
  2. Al-Arafah Islami Bank Limited
  3. Export Import Bank of Bangladesh Limited
  4. Social Islami Bank Limited
  5. Shahjalal islami Bank Limited
  6. First Security Islami Bank Limited
  7. Union Bank Limited
  8. ICB Islamic Bank Limited

Foreign commercial banks

There are nine foreign commercial banks currently operating in Bangladesh. These are:

  1. Bank Al-Falah
  2. Citibank NA
  3. Commercial Bank of Ceylon
  4. Habib Bank Limited
  5. HSBC (The Hong Kong and Shanghai Banking Corporation Ltd.)
  6. National Bank of Pakistan
  7. Standard Chartered Bank
  8. State Bank of India
  9. Woori Bank

Specialized banks

Specialized banks were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh. Scheduled Specialized Banks:

  1. Bangladesh Krishi Bank
  2. Rajshahi Krishi Unnayan Bank

Non-Scheduled Specialized Banks:

  1. Karmasangsthan Bank
  2. Probashi Kallyan Bank
  3. Palli Sanchay Bank
  4. Ansar-VDP Unnayan Bank

Micro-Finance Organizations (Semi-Formal):

  1. Grameen Bank

Co-Operative Banks:

  1. Bangladesh Samabaya Bank Ltd
  2. The Dhaka Mercantile co-operative Bank Ltd
  3. Progoti Co-operative Land Development Bank Limited (Progoti Bank)

NPSB Member banks

  1. AB Bank Limited
  2. Al-Arafah Islami Bank Limited
  3. Bangladesh Krishibank
  4. Bank Asia Limited
  5. BASIC Bank Limited
  6. BRAC Bank Limited
  7. Dutch-Bangla Bank
  8. Eastern Bank Limited
  9. EXIM Bank Limited
  10. First Security Islami Bank Limited
  11. ICB Islamic Bank Limited
  12. IFIC Bank Limited
  13. Islami Bank Bangladesh Limited
  14. Jamuna Bank Limited
  15. Meghna Bank Limited
  16. Mercantile Bank Limited
  17. Midland Bank Limited
  18. Modhumoti Bank Limited
  19. Mutual Trust Bank Limited
  20. National Bank Limited
  21. NRB Bank Limited
  22. NRB Commercial Bank Ltd
  23. NRB Global Bank Limited
  24. One Bank Limited
  25. Prime Bank Limited
  26. Pubali Bank Limited
  27. SBAC Bank Limited
  28. Shahjalal Islami Bank Limited
  29. Social Islami Bank Limited
  30. Sonali Bank
  31. Southeast Bank Limited
  32. Standard Bank Limited
  33. Standard Chartered Bank Limited
  34. The City Bank Limited
  35. Trust Bank Limited
  36. Union Bank Limited
  37. United Commercial Bank Limited
  38. Uttara Bank Limited
  39. Agrani Bank Limited
  40. Habib Bank Limited

Non-banking financial institutions

  1. Investment Corporation of Bangladesh (ICB)
  2. Uttara Finance and Investments Limited
  3. United Finance
  4. Union Capital Limited
  5. The UAE-Bangladesh Investment Company Limited
  6. Saudi-Bangladesh Industrial & Agricultural Investment Company Limited (SABINCO)
  7. Reliance Finance Limited
  8. Prime Finance & Investment Limited
  9. Premier Leasing & Finance Limited
  10. Phoenix Finance and Investments Limited
  11. People's Leasing and Financial Services Limited
  12. National Housing Finance and Investments Limited
  13. National Finance Limited
  14. MIDAS Financing Limited
  15. LankaBangla Finance Limited
  16. Islamic Finance and Investment Limited
  17. International Leasing and Financial Services Limited
  18. Infrastructure Development Company Limited (IDCOL)
  19. Industrial Promotion and Development Company of Bangladesh Limited (IPDC)
  20. Industrial and Infrastructure Development Finance Company (IIDFC) Limited
  21. IDLC Finance Limited
  22. SUMON Bank
  23. Hajj Finance Company Limited
  24. GSP Finance Company (Bangladesh) Limited (GSPB)
  25. First Lease Finance & Investment Limited
  26. FAS Finance & Investment Limited
  27. Fareast Finance & Investment Limited
  28. Delta Brac Housing Finance Corporation Limited (DBH)
  29. Bay Leasing & Investment Limited
  30. Bangladesh Industrial Finance Company Limited (BIFC)
  31. Bangladesh Finance & Investment Company Limited
  32. Agrani SME Finance Company Limited
  33. CAPM Venture Capital and Finance Limited
  34. Meridian Finance and Investment Limited
  35. Realistic Finance Bank Limited

List of SWIFT codes

ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Business Identifier Codes approved by the International Organization for Standardization(ISO). It is a unique identification code for both financial and non-financial institutions. Swift Society for Worldwide Interbank Financial Telecommunication, handles the registration of these codes. Because Swift originally so it is very important things.

References

  1. ↑ Central Bank of Bangladesh, Bangladesh Bank. "Financial System". Bangladesh Bank. Bangladesh Bank. Retrieved 27 October 2015.
  2. ↑ Financial System > Banks and FIs (https://www.bb.org.bd/fnansys/bankfi.php)
  3. ↑ https://www.southeastbank.com.bd/home.php
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